What's happening
This bill allows excess funds over $2.5 million from the tuition reimbursement account to be transferred to the vocational school supervision account.
Why it matters
Shifts surplus educational funds. By allowing excess money from the tuition reimbursement account to be transferred, the bill could help redirect underutilized resources to areas of greater current need within vocational school oversight, potentially improving school quality or compliance.
Increases oversight funding flexibility. The proprietary vocational school supervision account, which monitors and regulates private career schools, may receive additional funds, potentially strengthening the state’s ability to ensure these schools meet standards and protect students.
May impact student protection priorities. Since the tuition reimbursement account is typically meant to reimburse students if private career schools close unexpectedly, transferring surplus could indicate confidence in the fund’s solvency—but it also means less financial buffer for students if multiple schools close simultaneously.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Transfer Surplus School Funds
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Referred to higher education
- Referred to higher education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Transfer Excess Tuition Funds
In Senate Committee · Higher Education · Sponsor John Liu
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4042
2019-2020 Regular Sessions
IN ASSEMBLY
January 31, 2019
Introduced by M. of A. HYNDMAN -- read once and referred to the Committee on Higher Education
AN ACT to amend the education law, in relation to the transfer of certain funds from the licensed private career schools tuition reimbursement account to the proprietary vocational school supervision account
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 10 of section 5007 of the education law is amended by adding a new paragraph i to read as follows:
i. In the event that the net balance of the tuition reimbursement account is in excess of two million five hundred thousand dollars, as defined in paragraph a of this subdivision, any amount over two million five hundred thousand dollars shall be transferred directly to the proprietary vocational school supervision account upon request by the commissioner.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07644-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.